Entries for Cash Dividends The declaration, record, and payment dates in connection with a cash dividend...
Entries for Cash Dividends
The declaration, record, and payment dates in connection with a cash dividend of $69,000 on a corporation's common stock are February 1, March 18, and May 1.
Journalize the entries required on each date. If no entry is required, select "No Entry Required" and leave the amount boxes blank.
| Feb. 1 | |||
| Mar. 18 | |||
| May. 1 | |||
Homework Answers
| Date | General Journal | Debit | Credit |
| Feb. 1 | Cash dividends | $69,000 | |
| Cash dividend payable | $69,000 | ||
| ( To record dividend declared) | |||
| Mar. 18 | No Entry Required | ||
| May. 1 | Cash dividend payable | $69,000 | |
| Cash | $69,000 | ||
| ( To record payment of dividend declared) |
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Entries for Cash Dividends
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